Following the huge wave of success with its first store opening in Shanghai, Costco plans on opening its second location “as soon as possible,” according to news source China Knowledge.
While there were already high expectations, the turnout to Costco’s first store in the country exceeded its anticipations with wrap-around lines and early store closing due to a massive turnout.
Images of Disneyland at Christmas come to mind when reading reports of opening day—cars circling or waiting three hours to park and residents with their shopping carts waiting in two-hour-long lines to check out. China Knowledge noted that traffic on the roads around the Costco store were temporarily “paralyzed,” forcing Costco to suspend business on the afternoon of the opening day. This did not stop Costco from seeing a record number of new member registrations, though.
All in all, the reception prompted Chief Financial Officer Richard Galanti to assure construction on the next location is coming, adding that the company is optimistic about the long-term success of its stores in China and will continue to bring high-quality, exciting, new products to its members around the world.
As Costco plans more locations here in the U.S. as well as in other key markets beyond our borders, Deli Market News will report on the latest.